econ-Microeconomics

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What is...?: This is the first half of W&L's two-term introduction to economics. Microeconomics is the science of human behavior, with a focus on individual, "rational" decisions.

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econWhat is...?: This is the first half of W&L's two-term introduction to economics. Microeconomics is the science of human behavior, with a focus on individual, "rational" decisions. Among many possible examples, economists build models to analyze how we use time, what and how much we consume, and why we do (or do not) vote. We extrapolate such analysis from individuals to include the behavior of firms (by treating them as individual decision makers), and the interaction of individuals in markets. Economists typically abstract from the dynamic complexities of the real world to focus on "

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